Ensuring that investment professionals receive the best possible training has always been a top priority for us. After all, only sound qualification courses backed by ongoing training for all capital market experts can guarantee a truly professional advice service and corresponding consumer protection in a transparent market. This is one of the reasons why we set up the CEFA training program in 1991.

The CEFA training program, Certified European Financial Analyst, is an internationally recognized program that evaluates the set of banking and financial skills necessary to carry out financial analysis, advisory and investment as well as portfolio management tasks.

CEFA is accredited in 14 European countries besides Argentina and Brazil and is well recognized by employers. The CEFA is a benchmarked qualification with challenging exams, ensuring the major professional skills that candidates need. The CEFA Quality is controlled by the EFFAS Review Panel, an indepedent high-level academic body. Our diploma respects local market requirements, conditions and characteristics as well as individual cultures. That’s why the CEFA diploma designation is recognized by the Financial Conduct Authority FCA in UK, the Regulator of Financial Services in Malta and their counterparts in among others Greece, Portugal, Spain and Romania.

👉 New brochure ‘Program Overview 2024’

Why should you follow the CEFA program?

The added value of CEFA lies within:

  • a blended training with both classroom teachings and online training (self-study);
  • a solid professional program in finance;
  • an international recognised qualification;
  • a complete online learning and examination platform;
  • the expertise of highly certified lecturers;
  • a wide range of possibilities for participation in further international top finance programs and examinations.

The training includes both relevant material to the investment profession (irrespective of where such professionals are located) and a significant coverage of regulatory and market structure material that is closely related to the European market place.

The complete CEFA program consists of 91 hours classroom training (physical or Teams), split over 11 different modules, and a significant part of self-study per module. The online learning platform provides you with manuals, examination questions and answers, reading material (slides and core books) and on several topics video recordings of life teaching.

Program overview

Who should attend?

The CEFA training program is focused on the professional background of analysts, portfolio managers, fund managers, CFOs, asset managers and all other financial professionals.

Practical information

Please send us a duly completed registration form via email to info@abaf-bvfa.be. After evaluation of your enrolment, we will inform you about your admission to the CEFA program by mail. For the complete program, candidates can step in three times a year, i.e. before the start of each block. When you enrol per block or for a particular module, the registration has to be done 14 days before the start of the courses.
Registration form 2024
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EFFAS has accredited the CEFA degree internationally and is now recognized in 14 countries. In Belgium, ABAF/BVFA organizes the training and examinations.
The program is composed of 11 separate modules and as such of 11 examinations. Students receive all course materials (manuals, lecturer's presentations, examples of previous exams,...) in advance in order to prepare for the exams. 
Exams are organized physically; examination dates are communicated at the start of the program and mentioned in the brochure.

Successful participants obtain the international EFFAS CEFA qualification and have direct access to the highest and final level of the CIIA® training and examination.


If you have any questions related to the program or registration procedure, we can help you.

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